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Consumer equilibrium on the basis of …

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Consumer equilibrium on the basis of indifference curve..

    • Posted by Lalla Anand 6 years, 10 months ago

    CBSE > Class 12 > Economics
    • 1 answers

    Nishu Ahlawat 6 years, 10 months ago

    Consumer's Equilibrium on the basis of Indifference Curve occurs at the point where the indifference Curve and budget line interesect each other at the highest IC. Conditions :- MRSxy = Px / Py and MRS must mall continuously MRS - Slope of Indifference Curve Px / Py - Slope of Budget Line

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